Tuesday , April 16 2024

Intercity Transportation Fares Increase by 98% in June – NBS

The average transportation fare per commuter rose by 97.88 per cent in June from N649.59 to N1,228.41 amid the price hike occasioned by the fuel subsidy removal policy.

The National Bureau of Statistics (NBS) disclosed this in its latest Transport Fare Watch report.

NBS noted that every year, transportation fares had increased by 120.63 per cent from N582.61 in June 2022.

Also, the report stated that in air travel, the average transportation fare paid by air passengers for specified routes’ single journeys increased by 4.93 per cent from N74,948.78 in May 2023 to N78,640.54 in June 2023.

Also Read: Sustaining Nigeria’s Transport Sector Using Technology

“The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 per cent from N649.59 in May 2023 to N1,285.41 in June 2023. On a year-on-year basis, it rose by 120.63 per cent from N582.61 in June 2022”.

Recall that the fuel pump price increased to over N600 per litre in July amid speculation of further hikes by oil marketers.

The NBS report also said this included the breakdown of bus journeys within the cities per drop constant route; bus journey intercity (state route) charge per person amongst other means of transportation.

Also Read:  Transportation Fare Increases by 72.6% YoY in April 2021 – NBS

On a year-on-year basis, it said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.

The average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023 compared to N4,002.16 in May 2023 indicating an increase of 42.09 per cent on a month-on-month basis.

The report read, “The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 per cent from N649.59 in May 2023 to N1,285.41 in June 2023. On a year-on-year basis, it rose by 120.63 per cent from N582.61 in June 2022.

“In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09 on a month-on-month basis compared to N4,002.16 in May 2023. On a year-on-year basis, the fare rose by 55.25 per cent from N3,662.87 in June 2022.”

About Bukola Olanrewaju

Check Also

Wema Bank Customers Lost N685.6 Million to Fraud, Forgery in 2023

Wema Bank Customers Lost N685.6 Million to Fraud, Forgery in 2023

Wema Bank Plc customers suffered a N685.6m loss to fraud and forgery activities last year. …

Leave a Reply

Your email address will not be published. Required fields are marked *